Green loans maintained rapid expansion in north China's Tianjin Municipality over the past year, as the country steps up its green growth efforts, local authorities have said.

This issue of the Gulf Economic Update includes a special section focused on GCC green growth opportunities for the GCC countries as the world accelerates transition to a greener future. Moving away from fossil fuels towards greener energy should not be seen as a threat but as a tremendous opportunity. This direction is entirely in line with GCC country vision documents that outline an image of the economy of the future that relies increasingly on the private sector playing a leading role in investment, job creation and value addition. The report presents the latest economic developments in the GCC focusing on the post-pandemic recovery, the vaccine roll out and the implications of a more favorable oil market. The team will highlight the medium-term prospects given continued volatility in the oil market and the need to diversify GCC economies.

developing economies have favorable conditions for industrialization brought by digital transformation and green growth

China has unveiled a five-year plan, from 2021 to 2025, on developing energy technologies to propel green growth and digital transformation of the energy sector, the National Energy Administration (NEA) said Mar.2.